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ARTICLES
Los Angeles Times "Small Talk" June 10, 1998 Advice from Small-Business Experts by Karen Klein Question: I recently started a home-based business that produces custom computer business forms in small quantities, which I sell strictly wholesale. I have a complete business and personal line of custom products, all produced in small quantities, and that is where I want my business to stay - the small-quantity market. My problem is that it's been difficult to penetrate this particular market, and I would prefer to stay away from retail. Any advice? - Carmen Merstik, La Quinta Answer: It is difficult to sell small quantities in the wholesale market. Small businesses generally need to have higher profit margins more typical of retail to survive - or they need to offer some value-added service that will attract customers, such as personal attention, quicker response time, or customization.In a wholesale market you are competing with larger companies that can produce a higher volume of product, handle more orders and operate on lower profit margins. You also may face longer collection times. To be successful, you will have to promote your products as being delivered faster or looking more artistic than the competition. Or think about offering some items that will differentiate your company and create a special niche that your customers will be willing to seek out and possibly pay more for. - Peter Cowen, |
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Peter Cowen & Associates
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